ASX 3 days down in a row...correction time now?

r3ckless said:
Thrre days in the red. Not significant... But could this be the sign of the corrrection that is overdue, thoughts?
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It's been more then 3 days now and still on the slide,maybe:) there was a bit of manipulation in some companies accounting data and looking at todays volumes the deviation decline is starting to get faster and faster,well the units that I control are others investors may be same..

For all those people that email me asking for a entry point,i only do maybe 5-8 big $$$$ short term trades per year,SOME pay bigtime quickly if it turns around the others make me start drinking again,after a while one become numb to insults..

http://en.wikipedia.org/wiki/Thought_experiment
 
For me, Im just accumulating each week or so. Havent purchased for last 3 weeks as everything I have has been in the Green, but with the slide last couple days, Im able to average down a couple shares with a larger parcel so my average purchase price becomes lower and creates the dividend yield more healthy.

Hoping to average down so my overall yield will exceed 6% plus franking for 2014. Only been purchasing since April (except my first single trade in February). Has worked for me so far.

I also have cash reserved in case of a decent slide should it happen.


pinkboy
 
According to the chart it's doing exactly what it's been doing at the exact same times , as it's been doing all year.
According to the chart it's due to start heading up again to probably pass it's last high, quite rapidly sometime within the next few days to a wk.
Of course , even if they are following their exact previous patterns for at least 3 or 4 humps or dips, that doesn't mean they will this time . It just means it's very likely . But it could just as easily decide to start a new trend to , like dowwwnnnn .
 
Over the last month the ASX200 is lucky to be down about 1%

Looking at 3 months, its about on par where it was 3 months ago (0 change).

Looking back 6 months, its up around 2%
 
Sounds funny , well if you don't own stuff falling anyways . But the chart was at a point last post where it could've either started to bounce again as it's done all year mostly or dived further . So it dived further.

But this wk just " looks", like it may have bottomed I reckon. Could be some good buying end of wk.
But we'll need till the end of the wk as we're only midway through the second spike. We should have the 3rd by the end of the wk , poss mon tues max.
Maybe , if all is well then , things will settle and start to climb again but it all depends on whether we get the 3rd spike. :confused:

PS , mind you, l'm just trying to have some fun on it, take with grain of salt but it is using what l use to day trade on .
 
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Mr. Fabulous said:
Yeah, it could go down. But then again, it might go up. On another note, it could go sideways.
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actually it goes in cycles. So its not a 30/30/30% probability.

When the market is bullish its more to the positive than negative.
When the market is bearish its more to the negative than positive.

Notice in recent times that we get negative, negative, positive, negative, negative, positive. Or something like that.

The trading rule is to sell into strength rather than to buy into weakness.

For myself, I am not doing much, tinkering with individual positions, but no conviction on the market as a whole. Strategic outlook for Australian market far too uncertain (just like strategic outlook for Australian economy is uncertain)
 
You know what l'm really wondering , what the likes of bhp will do when the market comes back . You know bhp is usually such a strong recover er but with steel prices as they are now , gotta wonder.

l think it was 07 or 06 , l bought bhp twice that year waiting out these dips at 26 . It bounced back each time and l think l sold at mid 40 ish. Great trades.

Hard to say where even the likes of bhp will go in the next few mths though right now , don't you think ?
 
looks like the second spikes bottomed . lf we get a 3rd spike thurs - frid , l reckon she'll be on the mend next wk.
lf we get the 3rd , Mind you , l do not like the way the 2nd spike appears to be moving sideways right now, if that continues over the next few days , :eek:
 
redwing said:
20% Drop :eek:

Buying Spree :D
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who knows?

but there are plenty of individual asx companies that are down 20% from their highs.

Too many people draw their cues from the ASX.

Remember the ASX index is comprised 60% odd of about 6 companies.

And remember the point I made earlier about just as the Australian economy is going through structural change so is the ASX index.

Why don't some clever people out there compare the composition of the ASX 200 to 1 year ago, 2 years ago?????

How are individual positions in that index travelling (outside of the top 10 or so) over this period????
 
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